Q1. Goth Inc.

had the following balances on the balance sheet on September 1, 2010 $ Cash 2,500 Accounts receivable 1,500 Land 13,000 Accounts payable 4,000 Common stock 5,000 Retained earnings 8,000 During September, the following business activities (transactions) occurred. Additional investment $10,000 by shareholders were received. The business earned September revenue of $1,100 in cash. Paid $4,000 on accounts payable. Purchased $700 office supplies on account. Collected $600 of accounts receivable. Further investment $1,700 by shareholders were received. Performed $4,300 of services on account. Paid salaries $1,000 and advertising expenses, $300. Used $100 of the office supplies purchased earlier. The company paid September dividends of $2,200. Required: Prepare a statement of comprehensive income and statement of changes in equity for the month of December 2010 and a statement of financial position of the business at 31 December 2010.